Piperylene
or 1, 3 - Pentadiene is a base raw material for chemical industry
with formula C5H8 and molecular weight 68.12. It is obtained as a
derivative of ethylene from crude oil, waste incineration, exhaust
gases, and combustion of biomass.
Piperylene
is used as a monomer in manufacturing adhesives, resins, and
plastics, attributing to properties such as lightweight, toughness,
high mechanical strength, and resistance towards radiation and
corrosion. Increasing use of lightweight components in aerospace and
automotive industry is expected to fuel the growth of the piperylene
market over the forecast period.
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Market
Outlook
Piperylene-based
products are used in manufacturing parcel tapes, diaper fastenings,
envelops, building & construction materials, road markings, and
others. The upsurge in end-use industries such as automotive,
manufacturing, and aerospace is expected to be a major factor
propelling the growth of piperylene market. According to a report
published by Just-Auto in August 2018, the global automotive industry
is growing continuously, wherein global sales for light vehicles
increased by 3.7% in 2018 in comparison with the previous year.
Asia
Pacific is projected to witness the highest revenue share in the
global piperylene market over the forecast period, owing to growing
automotive and manufacturing industries in the region. According to
India Brand Equity Foundation (IBEF) report published in October
2018, Automotive industry in India was 4th largest in the
world accounting for 4.2 billion sales (excluding two-wheelers) in
2017, recording an increase of 9.5% in comparison with 2016.
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According
to a report published by the United Nations Industrial Development
Organization (UNIDO) in March 2018, worldwide manufacturing output of
piperylene retained a growth of 4.2% in the first quarter of 2018 and
China, the world’s largest pipeline manufacturer, continued a
growth of 6.3% independently. This scenario is projected to fuel
demand for piperylene from manufacturing industry worldwide, largely
driven by emerging economies such as China and India.
Key
Players
Major
players operating in the global piperylene market include, Shell
Chemicals, LOTTE Chemical Corporation, Chevron Phillips Chemical
Company, ZEON Corporation, The Dow Chemical Company, LyondellBasell
Industries N.V., Eastman Chemical Company, Shanghai Shangyi Chemical
Technology Co., Ltd., and Nova Chemicals.
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